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Nov 7, 2012
11/12
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here we have an interesting divide between wall street and washington. wall street seems to believe and you can take a look at the numbers on how the market has acted over the past year. wall street seems to believe that we'll avert this cliff. washington seems to be willing to drive over the cliff. >> i think there's -- i don't want to pick on the tea party per se. you can say if obama would suddenly give in on taxes. what i worry about is there are people who are ideological in the country and more focused on other issues than taxation and money. those people i think are very much out of sync with other people as we discovered last night from the election. they could care less about the fiscal cliff. i think some people want to go over the cliff. >> howard dean last night, sam on "squawk" a couple weeks ago saying maybe it's the best medicine for us is to drive over this thing, go into a recession, provide some bed for growth in the second half of the year. it's a gamble. >> $5 trillion in cuts. get budget deficit worries off people's minds. you have t
here we have an interesting divide between wall street and washington. wall street seems to believe and you can take a look at the numbers on how the market has acted over the past year. wall street seems to believe that we'll avert this cliff. washington seems to be willing to drive over the cliff. >> i think there's -- i don't want to pick on the tea party per se. you can say if obama would suddenly give in on taxes. what i worry about is there are people who are ideological in the...
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Nov 6, 2012
11/12
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you hosted candidates monday in washington. the view from the sidelines this time around, how does the race look? >> there is a speculative frenzy. let's set it aside. the reason for the third-party debates is because they are putting forward to the american people a lot of redirection and changes that are ignored by romney and obama. off the table. not discussed in the debates or on the campaign trail. for example a majority of the people want a minimum wage at least adjusted for inflation to 1968 taking it from $7.25 to over $10 an hour. a majority of the people want full medicare for all. free choice of doctor and hospital. off the table from obama and romney. majority of people want wall street crooks and corporate crime enforcement to get tougher. off the table. a lot of people don't like bailouts and subsidies whether they are libertarians or liberals. not discussed by obama or romney. not to mention getting out of afghanistan. that's now over 70% of the public want us to get out of there. to end huge wars overseas. they
you hosted candidates monday in washington. the view from the sidelines this time around, how does the race look? >> there is a speculative frenzy. let's set it aside. the reason for the third-party debates is because they are putting forward to the american people a lot of redirection and changes that are ignored by romney and obama. off the table. not discussed in the debates or on the campaign trail. for example a majority of the people want a minimum wage at least adjusted for...
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Nov 28, 2012
11/12
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even the oracle of omaha is watching washington. warren buffett outlining the plan he thinks could get the fiscal house in order. take a listen. >> the plan would get us in the near future to having 18.5% of gdp as retches and 21% as expenses. we've had that plan basicly in effect since world war ii. it's bounced around a bit, but those two levels, 18.5 and 21 are sustainable, in the sense that they will not increase the ratio of the national debt to gdp. they'll run a deficit every year, but because our economy grows 18.5 and 21 is a very sustainable figure, in fact will probably bring down the debt to gdp over time. >> carol loomis next to him have been on a immediate use tour with their new book, that we're held to the fire, got a very good interview. >>> costco still remains one of the top gainers as they jump on top this special dividend bandwagon, stocks up almost 5%. the dividend, by the way, $7 on common, payable december 18th to shareholders of record december 10s. it is a $3 billion payout. they're going to finance some of
even the oracle of omaha is watching washington. warren buffett outlining the plan he thinks could get the fiscal house in order. take a listen. >> the plan would get us in the near future to having 18.5% of gdp as retches and 21% as expenses. we've had that plan basicly in effect since world war ii. it's bounced around a bit, but those two levels, 18.5 and 21 are sustainable, in the sense that they will not increase the ratio of the national debt to gdp. they'll run a deficit every year,...
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Nov 14, 2012
11/12
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washington and taxes is a very easy way. think about little sound bites and little things that can come out of d.c. that could put a boiling type temperature to the marketplace. similar to that t.a.r.p. vote. and the reason this is not a good thing, and i'll go back to that old abbott and costello play, who's on first? when we talk about the fiscal cliff, obviously there's a chronology to it. what happens on december 31st? taxes are changing. but does that mean entitlement programs, something magic happens at midnight on december 31st? no. and that's why it's very difficult for me to see a compromise. because the republicans are going to have to blink way earlier on the taxes, or compromise there, than anything going on with entitlement. here's the issue. it's like pacman. but pacman isn't eating little power dots. you know what pacman is eating? dollars. in this analogy, pacman are the entitlements. i'll tell you what, this is an issue. because while in the debates and all the commercials, pre-election and even now, this is
washington and taxes is a very easy way. think about little sound bites and little things that can come out of d.c. that could put a boiling type temperature to the marketplace. similar to that t.a.r.p. vote. and the reason this is not a good thing, and i'll go back to that old abbott and costello play, who's on first? when we talk about the fiscal cliff, obviously there's a chronology to it. what happens on december 31st? taxes are changing. but does that mean entitlement programs, something...
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Nov 8, 2012
11/12
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grover norquist in washington. with the election in the books it does appear dodd-frank is here to stay. we'll ask mike mayo in just a moment. for many, nexium helps relieve heartburn symptoms caused by acid reflux disease. osteoposis-related bone fractur and w magnesium levels have bn seenith nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor about nexium. >>> financials are among the leading sectors on the s&p. mike mayor is a bank analyst for clsa and an affiliate of agricoal and just named most powerful people in finance and the only analyst to have made it on that list. good to have you on post 9. >> thanks. >> sounds like a large part of your argument is it's been long enough to have these laws not tied down, and not pinned down and not written, write? that's the problem. >> i say no more excuses. let's get on with it. it's been two years for dodd-frank and if you're regulators and let's get the laws written and e
grover norquist in washington. with the election in the books it does appear dodd-frank is here to stay. we'll ask mike mayo in just a moment. for many, nexium helps relieve heartburn symptoms caused by acid reflux disease. osteoposis-related bone fractur and w magnesium levels have bn seenith nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor about nexium. >>> financials are among the...
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Nov 2, 2012
11/12
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john harwood in washington. the search for gasoline still one of the biggest issues in the northeast after sandy. look at these lines. they are long, in some cases more than a mile. supply is low. demand is high. that could change after the secretary, secretary napolitano, now allowing more oil tankers into the harbors around here. we'll go live to a gas station in new jersey to get a check on the situation there next. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help save you up to thousands in out-of-pocket costs. call today to request a free decision guide. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a sp
john harwood in washington. the search for gasoline still one of the biggest issues in the northeast after sandy. look at these lines. they are long, in some cases more than a mile. supply is low. demand is high. that could change after the secretary, secretary napolitano, now allowing more oil tankers into the harbors around here. we'll go live to a gas station in new jersey to get a check on the situation there next. [ male announcer ] eligible for medicare? that's a good thing, but it...
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Nov 12, 2012
11/12
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anybody who has bet on washington hasn't done that well on washington doing the right thing. hasn't done that well. >> do you feel like sentiment has shifted so far to one side and that is a pessimistic side of things that maybe there's risk to the upside at this point in terms of not being in the markets? >> i think that people feel like it's a risk-free sell of stock to be able to get that capital gain in. i guess what i'm more worried about is earnings. the more they dither, the more numbers have to come down. we have retail companies that report this week. i can tell you i'm confident maybe there's a deal and then you get whacked by the numbers. we need to see a deal quickly so that the fourth quarter doesn't go away. >> speaking of retail, a lot of retailers moving up black friday into thursday. thursday night specifically. this is a terrible statement in terms of the values of the american family in spending time together on thanksgiving i think. other than that you have to wonder whether they'll gain sales or if it will be a pull forward of sales that would have happen
anybody who has bet on washington hasn't done that well on washington doing the right thing. hasn't done that well. >> do you feel like sentiment has shifted so far to one side and that is a pessimistic side of things that maybe there's risk to the upside at this point in terms of not being in the markets? >> i think that people feel like it's a risk-free sell of stock to be able to get that capital gain in. i guess what i'm more worried about is earnings. the more they dither, the...
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Nov 5, 2012
11/12
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everybody knows that in washington nothing happens unless you work with the other side. i think that's why we've had gridlock for the last couple years and so for sure governor romney will be on the horn talking to democrats right away and talk about big things we need to do next year. we can turn this country around but it will require a lot of legislation and tax reform and things that governor romney has talked about on the campaign trail. one of the things he'll do is get together with democrats to start to plan next year. >> people will look for the word compromise diligently when it comes to fiscal cliff. how much leeway from an economic standpoint does the governor have in dealing with a house that's to the right. we'll see what happens with the senate. how much room are they going to give him even with paul ryan acting as a liaison? >> again, the first thing we have to do is get the fiscal cliff fixed. i think governor romney would like to extend everything for a year. if you look at fiscal policy history, when you have a president who leads, a president that neg
everybody knows that in washington nothing happens unless you work with the other side. i think that's why we've had gridlock for the last couple years and so for sure governor romney will be on the horn talking to democrats right away and talk about big things we need to do next year. we can turn this country around but it will require a lot of legislation and tax reform and things that governor romney has talked about on the campaign trail. one of the things he'll do is get together with...
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Nov 16, 2012
11/12
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that is where carl is in washington d.c. reports this morning that hard decisions surrounding deficit reduction could be kicked down the road until 2013 in favor of a smaller package of tax increases and spending cuts. >> what does that mean for the markets? already since the elections the s&p has lost more than $600 billion in market cap. we've got stocks down six of the last seven sessions. >> a tale of two retailers this morning. gap continues to show signs of a turnaround posting earnings at top estimates and raising guidance. sears holdings slumps on its earnings miss. wi at 10:15 eastern, president obama will host senate and house leaders to discuss ways to solve the fiscal cliff. sources telling t"the wall stret journa journal", white house are in advance internal discussions to replace sweeping spending cuts set to begin in january with a smaller separate package of targeted spending cuts and tax increases and this certainly changes the story entirely in terms of what we're looking at over the next few weeks if this
that is where carl is in washington d.c. reports this morning that hard decisions surrounding deficit reduction could be kicked down the road until 2013 in favor of a smaller package of tax increases and spending cuts. >> what does that mean for the markets? already since the elections the s&p has lost more than $600 billion in market cap. we've got stocks down six of the last seven sessions. >> a tale of two retailers this morning. gap continues to show signs of a turnaround...
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Nov 13, 2012
11/12
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so if you're really going to do this, washington, try to do it right. in terms of random memory, you know, i was out at ec, englewood cliffs the day of and the day after the election. and the day after the election, i happened to be sitting next to john podesta, who is going to be at this big news conference today. let's listen to what i asked him and what his answer was on the seventh wednesday of last week. run the clip. >> what was the highest revenue ever for funds coming into the government? i believe it was in the second term of -- >> of clinton. >> no -- >> no, it was the second term of clinton. >> let me get this straight. of course, mr. podesta has a pedigree resume, to be sure, chief of staff in the clinton years and currently he's at the center of american progress right now. but i'll tell you what, the center obviously doesn't count mathematics. because all's he has to do is go to the tax policy center, they have a website, dot-org, and in current dollars, $2.4568 trillin is the most the government's ever come in, and in constant dollars, it
so if you're really going to do this, washington, try to do it right. in terms of random memory, you know, i was out at ec, englewood cliffs the day of and the day after the election. and the day after the election, i happened to be sitting next to john podesta, who is going to be at this big news conference today. let's listen to what i asked him and what his answer was on the seventh wednesday of last week. run the clip. >> what was the highest revenue ever for funds coming into the...
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Nov 9, 2012
11/12
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meantime, a road map starts at cross section of wall street and washington. third weeks of losses as congressional office highlights difficulties if no fiscal cliff worked out. >> jcpenney shares on sale as it posts a much bigger loss and revenue miss. concerns mounting now about whether ceo ron johnson can right this ship. >> disney shares under pressure. casually optimistic about theme park business. >> groupon, one analyst slashing his down to one. >>> the worries the president and washington lawmakers will not agree on a deal to avoid the fiscal cliff. the cbo warns if an agreement is not struck by the end. year, the u.s. economy would head back into recession, contract by half a percent in 2013. president is scheduled to make remarks on the cliff at 1 p.m. time. speaker boehner will address us. can the president say anything to make this whole week look like a dream? >> that's a tough one. what our lalt friend mark haines used to talk about, we need a capitulation, we need the answer, no, are you kidding? there was a congressman on "squawk" this morning
meantime, a road map starts at cross section of wall street and washington. third weeks of losses as congressional office highlights difficulties if no fiscal cliff worked out. >> jcpenney shares on sale as it posts a much bigger loss and revenue miss. concerns mounting now about whether ceo ron johnson can right this ship. >> disney shares under pressure. casually optimistic about theme park business. >> groupon, one analyst slashing his down to one. >>> the worries...
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Nov 19, 2012
11/12
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i think that didn't get lost on washington. they remember the talk and remember when they saw 700 points melt from the dow because of something that happened in washington. i think that they said, look, we will go before the cameras and -- we may be general but we will be there. if you actually go back and look at what they said, they each gave different closing dates f
i think that didn't get lost on washington. they remember the talk and remember when they saw 700 points melt from the dow because of something that happened in washington. i think that they said, look, we will go before the cameras and -- we may be general but we will be there. if you actually go back and look at what they said, they each gave different closing dates f